Baltic Business News: Baltic M&A industry stumbled in 2012

The international M&A market declined last year, the decrease in deal activity hitting the Baltics even more significantly compared to the growth year of 2011. Estonia was the driver in 2012 with the majority of the largest Baltic M&A deals taking place there, and is also expected to remain the more active market together with Lithuania this year.

Across the Baltics the number of announced deals decreased by 16% but in Estonia deal volume increased, even surpassing deal numbers in Lithuania, which is a significantly larger economic market. “The proportion of M&A deals connected to Estonia from all Baltic transactions was larger than usual for different reasons. One important deal driver was the aim of previous owners to exit from the market or sector (e.g. sale of Veolia/Dalkia companies, R-Kiosks and Televõrgu), and also to involve new strategic partners (e.g. sale of Vesta and Vopak E.O.S. terminals),” comments Toomas Prangli, head of the SORAINEN regional M&A and Private Equity Team.

In 2012, by far the largest M&A transaction involving a Baltic company was the acquisition of 37.5% of Global Ports Investments by APM Terminals Management. In the Baltics the target operates through Vopak E.O.S, the largest independent oil products terminal operator in the Baltic States. From the top 10 M&A deals in the Baltics, 6 were also at least partially connected to Estonian targets. SORAINEN acted as legal adviser on 6 of the top 10 M&A deals in the Baltics.

To read the whole article please visit the Baltic Business News website.

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